West was Lennar’s largest segment in fiscal 2025, bringing in $11.91B of $34.19B (35%).
| Segment | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| West | $12.57B | $12.09B | $12.96B | $11.91B | ||||||||
| Homebuilding | — | — | — | — | ||||||||
| Lennar Homebuilding | — | — | — | — | ||||||||
| East | $8.39B | $8.52B | $8.25B | $6.97B | ||||||||
| Central | $6.72B | $7.30B | $7.88B | $7.76B | ||||||||
| South Central | — | $4.71B | $4.79B | $5.60B | ||||||||
| Texas | $4.23B | — | — | — | ||||||||
| Financial Services | $809.68M | $976.86M | $1.11B | $1.20B | ||||||||
| Lennar Financial Services | — | — | — | — | ||||||||
| Multifamily | $865.60M | $573.49M | $411.54M | $680.63M | ||||||||
| Lennar Multifamily | — | — | — | — | ||||||||
| Rialto | — | — | — | — | ||||||||
| Lennar Other | $44.39M | $22.04M | $14.23M | $41.43M | ||||||||
| Other | $40.14M | $38.82M | $33.49M | $26.83M | ||||||||
| Total | $33.67B | $34.23B | $35.44B | $34.19B |
Lennar brought in $34.19B from its eight segments in fiscal 2025, the year ended November 30, 2025. That was down 3.5% from $35.44B in fiscal 2024. West was the largest at $11.91B (34.8%), ahead of Central at $7.76B (22.7%) and East at $6.97B (20.4%). The other five segments brought in $7.55B combined.
Compared with fiscal 2024, South Central grew fastest, up 17.1% to $5.60B, while East fell the most, down 15.6% to $6.97B.
Lennar began breaking out South Central in fiscal 2023, when it brought in $4.71B. Lennar stopped reporting Texas as a separate segment after fiscal 2022, when it brought in $4.23B.
Home was Lennar’s largest product and service line in fiscal 2025, bringing in $32.10B of $34.19B (94%).
| Product and Service | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Home | $32.46B | $33.78B | $32.10B |
| Other Revenues | $1.66B | $1.57B | $1.96B |
| Land Sales Revenues | $109.96M | $93.38M | $130.23M |
| Total | $34.23B | $35.44B | $34.19B |
Lennar brought in $34.19B from its three product and service lines in fiscal 2025, the year ended November 30, 2025. That was down 3.5% from $35.44B in fiscal 2024. Home was the largest at $32.10B (93.9%), ahead of Other Revenues at $1.96B (5.7%) and Land Sales Revenues at $130.23M (0.4%).
Compared with fiscal 2024, Other Revenues grew 24.8% to $1.96B, while Home fell 5.0% to $32.10B. From fiscal 2023 to 2025, combined revenue from these lines fell from $34.23B to $34.19B, a compound annual decline of 0.1%. Home's share of the total fell from 94.8% to 93.9%.
Guarantor Subsidiaries was Lennar’s largest revenue line in fiscal 2017, bringing in $11.43B of $12.67B (90%).
| Consolidated Entities | FY 2016 | FY 2017 |
|---|---|---|
| Guarantor Subsidiaries | $9.95B | $11.43B |
| Non-Guarantor Subsidiaries | $1.02B | $1.24B |
| Total | $10.97B | $12.67B |
Lennar brought in $12.67B from its two revenue lines in fiscal 2017, the year ended November 30, 2017. That was up 15.5% from $10.97B in fiscal 2016. Guarantor Subsidiaries was the largest at $11.43B (90.2%), ahead of Non-Guarantor Subsidiaries at $1.24B (9.8%).
Compared with fiscal 2016, Non-Guarantor Subsidiaries grew 21.2% to $1.24B and Guarantor Subsidiaries grew 14.9% to $11.43B.
Lennar (LEN-B) reports its revenue by segment, by product and service and by consolidated entities. In fiscal 2025, West was its largest segment, bringing in $11.91B (34.8% of the total), followed by Central at $7.76B (22.7%).
West was Lennar's largest segment in fiscal 2025, bringing in $11.91B, or 34.8% of the $34.19B total across its eight segments.
Home was Lennar's largest product and service line in fiscal 2025, bringing in $32.10B, or 93.9% of the $34.19B total across its three product and service lines.
Guarantor Subsidiaries was Lennar's largest revenue line in fiscal 2017, bringing in $11.43B, or 90.2% of the $12.67B total across its two revenue lines.
Among Lennar's segments that make up at least 2% of revenue, South Central grew fastest in fiscal 2025, up 17.1% from $4.79B to $5.60B.
Every figure comes from Lennar's annual financial filings, as reported. Each line keeps the name Lennar gives it, and years follow its fiscal calendar.
Lennar's revenue by segment goes back to fiscal 2014, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.